At Least Senate Will Consider Fiscally Responsible Extenders Bill

By June 15, 2010Taxation

It looks like today Senators will get an opportunity to vote on a fiscally responsible, pro-growth tax extenders package — an amendment (No. 4333) sponsored by Sen. John Thune (R-SD) to H.R. 4213, the American Jobs and Closing Tax Loopholes Act.

Unfortunately, it’s not likely to garner enough votes. That’s too bad too because it’s an alternative that would extend manufacturing priorities without raising taxes. According to CBO, the Thune substitute cuts taxes by $26 billion, reduces spending by over $100 billion and reduces the deficit by $55 billion. Unfortunately politics are likely to keep the bill from going any further than today’s vote.

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